Australia Initially Adopted the 'Internationalisation' Approach to Setting Accounting Standards

Australia initially adopted the 'internationalisation' approach to setting accounting standards.This approach involves:

A) adopting accounting standards developed and adopted in other countries
B) developing local accounting standards based on an examination of accounting standards and practices developed outside Australia
C) the adoption by Australia and other countries of a single set of accounting standards for all countries
D) all of the above